I heard the same thing about my peers. And now we have Star Wars & NES games everywhere. I'd venture to say the younger generation's nostalgia is more for digital experiences & media than physical objects.
Finale:
"As for the appeal: Who, after all, can resist the fantasy of seeing what your parents were like before you were born, or when you were still little — too little to understand what the deal was with them, something we can only do now, in hindsight? And who, after having that privileged view, would want to dismiss the lives they led and world they inhabited as trivial — as passing fads, moments of madness? Who would still want to bash them, instead of telling them that we know they were bad but that now we forgive them?"
Note: this is similar to, but critically different than, the comments above. Mendelsohn's assertion is that the nostalgia is for the past lives of one's parents. How did they live? Who were they? Can we forgive them?
A couple of years after my grandmother passed away, my grandfather started dating again and he didn't realize that women who were decades his junior wouldn't have the same cultural touchstones that he does.
One time, he was trying to woo a woman who is only about three years older than me and he was shocked and mystified that the music of his young adulthood was annoying to her.
I asked him "Do you like listening to Benny Goodman and Count Basie? No. Well, that's what YOUR music sounds like to HER."